Grove Collaborative Raises $35M Series C to Redefine Household
Products for the Digital Age

Led by Norwest Venture Partners with participation from existing
investors, bringing total funding to date to over $60 million

January 17, 2018 04:00 PM Eastern Standard Time

SAN FRANCISCO--(BUSINESS WIRE)--Grove
Collaborative, a high-growth natural home focused platform,
delivering products directly to consumers, today announced the close of
its $35 million Series C financing led by Norwest Venture Partners with
participation from existing investors Mayfield Fund, MHS Capital,
Bullpen Capital, NextView Ventures, Serious Change and John Replogle.
The new funding round brings the total equity capital raised to over $60
million. Jeff Crowe, a managing partner at Norwest Venture Partners, has
joined the company’s board of directors.

Grove Collaborative is a digitally native brand with its own
direct-to-consumer e-commerce platform for natural home and personal
care products. Grove will use the funding to bring healthier products to
millions of households, expand their product offering, and launch new
groundbreaking, health and earth-conscious products.

Grove makes it simple and affordable for consumers to shop their values.
Grove sources better-for-you and more sustainable products from a
curated selection of third-party brands like Seventh Generation, Mrs.
Meyer’s, method, and Acure. Grove’s own Flagship brand, only available
at Grove.co,
offers beautiful, ethical products created specifically for an
e-commerce-first world. Grove stands out for its personalized customer
service, approachable prices, and its Flagship brand, which is the
company’s best selling line. With support from Norwest and existing
investors, Grove can tap into a wider market: 50% of Grove customers are
trying natural products for the first time through their platform.

Co-founder and CEO Stuart Landesberg saw the opportunity while
evaluating grocery investments at private equity firm TPG Growth.
“Non-Food CPG is a trillion dollar industry globally that’s been built
for an on-shelf world: packaging makes products appear larger,
transparency is limited, and huge trade marketing dollars help the
biggest brands own shelf space,” said Landesberg. “Families want to make
safe, sustainable, informed choices, and that’s how e-commerce can
catalyze real progress in an industry where incumbents have at times
prioritized profit over consumer preferences and environmental health.
This funding allows us to bring natural products to more homes, and help
us build a brand that can serve our community unconstrained by the
realities of offline sales.”

"Grove Collaborative is leading a generation of companies using a direct
and personal touch to bringing healthier products to consumers," said
Jeff Crowe, Managing Partner at Norwest Venture Partners. "Stu and the
Grove team are redefining consumer products with innovative form factors
for e-commerce and approachable health and sustainability stories behind
each item. Grove has the potential to drive huge positive change in the
CPG landscape."

Since launch, Grove has grown quickly to become a leader in sustainable
home and personal care. To see the full range of Grove Collaborative
products and to create a healthy, beautiful home go to Grove’s website www.grove.co.

About Grove Collaborative

Launched in 2016, Grove Collaborative is a digitally native brand with
an owned direct-to-consumer ecommerce platform for natural home and
personal care products. With a mission to help every family create a
healthy, beautiful home, Grove offers a flexible recurring shipment
model and gives each customer a personal shopper, a “Grove Guide.”
Grove’s ecommerce platform makes natural products approachable to many
families; half of Grove’s customers are trying natural for the first
time. Every product Grove offers, both from their flagship Grove
Collaborative brand and from exceptional third party brands, has been
thoroughly vetted for health, sustainability and efficacy. Grove is a
Certified B Corporation, a company that prioritizes social,
environmental, and community wellbeing as well as profit. For more
information, please visit www.grove.co.

About Norwest Venture Partners

Norwest is a leading venture capital and growth equity investment firm
managing more than $6 billion in capital. Since our inception, we have
invested in more than 600 companies and partner with over 140 active
companies across our venture and growth equity portfolio. The firm
invests in early to late stage companies across a wide range of sectors
with a focus on consumer, enterprise, and healthcare. We offer a deep
network of connections, operating experience, and a wide range of
impactful services to help CEOs and founders scale their businesses.
Norwest has offices in Palo Alto and San Francisco, with subsidiaries in
India and Israel. For more information, please visit Norwest.
Follow Norwest on Twitter @NorwestVP.

All brands, names, or trademarks mentioned in this document are the
property of their respective owners.